AMF

What AMF does

AMF (Autorité des marchés financiers) is France's independent public regulatory authority for financial markets, established in 2003 by the Financial Security Act through the merger of the COB, CMF, and CDGF. It is headquartered in Paris at 17, place de la Bourse, with approximately 650 employees, and operates under the oversight of the French state with a Collège governing body. AMF's statutory mandate covers three core missions: protecting retail savings invested in financial products, ensuring the quality of investor information, and maintaining the proper functioning of French financial markets. Its primary constituencies are asset management companies, investment service providers, fintech and digital asset service providers, listed companies and issuers, investment advisors, and retail investors.

The organization operates a portfolio of regulatory infrastructure including public databases BDIF (financial decisions on listed companies) and GECO (savings products and management companies), professional extranets ONDE and ROSA for regulated filings, an interactive short selling visualization tool launched in October 2024 as part of its Open Data program, and the Épargne Info Service hotline plus AMF Mediator for retail investor assistance. AMF administers two professional certification programs — the Generalist Exam (145,300+ credentialed since 2010) and the Sustainable Finance Exam (6,300+ since 2022) — through 13 certified training organizations, creating a credentialing ecosystem for French financial market professionals. Under its Impact 2027 strategic plan, AMF has prioritized sustainable finance regulation, IPO market revitalization, and the full implementation of EU MiCA Regulation for crypto-asset service providers, where it acts as France's national competent authority with EU passporting rights.

AMF is funded through regulatory contributions and fees from supervised entities rather than commercial revenue. It maintains bilateral and multilateral partnerships with ACPR (Pôle Commun), Banque de France, ESMA, IOSCO, ESRB, and Paris Europlace's IPO Forum, and conducts enforcement actions through its Enforcement Committee (e.g., the €350,000 Uzès Gestion fine). Services to the public are free; regulated entities pay fees for filings, prospectus approvals, and ongoing compliance submissions per published schedules.

Name

AMF

Legal name

Autorité des marchés financiers

Website

https://amf-france.org

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

501–1,000 employees

Short description

AMF is France's independent public financial markets regulator, established in 2003, overseeing asset managers, investment firms, fintechs, and listed companies while protecting retail investors through certification, mediation, and supervision services.

Ownership category

akta.pro rank

Product category

Financial Market Regulation

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Finance and Insurance (52)

SIC

Security Brokers, Dealers & Flotation Companies (6211), International Affairs (9721), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

AML/Financial Crime for Securities (KYC, Sanctions, PEP) (FSACAJAE)

akta.pro secondary industries

Financial Crime, AML/CFT & Sanctions Compliance (BPAHAFAE), AML/CTF & Sanctions Screening for Markets (Broker/Exchange Monitoring) (FSAFAKAE), Financial Regulation, AML/CFT & Tax Transparency Cooperation (BPADANAL), AML/KYC, Investor Onboarding & Compliance Services (FSAAAMAE), AML/CTF Transaction Monitoring & Case Management (FSAGAFAC)

Keywords

• Financial market regulation
• Investor protection services
• Securities supervision
• Professional certification exams
• Regulatory open data

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Regulatory Fees and Contributions: AMF is a public regulatory authority funded primarily through fees and contributions from regulated entities (asset management companies, investment service providers, listed companies) and regulatory charges on financial operations. As an independent public authority, it does not operate on a commercial revenue model.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

AMF is France's independent public authority that regulates financial markets, supervises and authorizes market participants (asset management companies, investment service providers, listed companies, fintech/crypto-asset service providers, crowdfunding intermediaries and investment advisors), and protects retail investors. It delivers this mission through public regulatory databases (BDIF, GECO), an open-data and short-selling visualization tool, secure professional extranets (ONDE, ROSA), two professional certification exams, an investor mediation service, the Épargne Info Service hotline, and an enforcement/sanctions regime.

Product overview

The AMF (Autorité des Marchés Financiers) is France's independent public authority responsible for regulating financial markets, protecting retail investors, and ensuring market integrity. Rather than offering a commercial product suite, the AMF provides a portfolio of public regulatory services and tools: BDIF and GECO open data platforms for financial decisions and savings products; interactive short selling data visualization; and two professional certification exams (AMF Generalist and AMF Sustainable Finance) administered through certified third-party training organizations. Additional services include PSAN and PSFP whitelists, investor mediation, the ONDE/ROSA extranets for professional reporting, and Épargne Info Service for investor education. These services are interconnected components of the AMF's public financial market infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• BDIF — Base des décisions et informations financières Publicly accessible database providing financial decisions and information on listed companies, including mandatory short position declarations and historical data updated daily; intended for investors, researchers, financial professionals and the general public.
• GECO — Base des produits d'épargne et sociétés de gestion Database of savings products and management companies, providing information on collective investment schemes and fund managers; intended for retail investors comparing financial products and for professionals.
• Interactive Short Selling Visualization Tool (Ventes à Découvert) Interactive dashboard allowing the public to visualize and explore net short position data graphically on financial securities, with historical trends and cross-security comparisons, built on mandatory declarations to AMF.
• Open Data Portal (Short Selling Open Data) Daily-updated consolidated historical data files on net short positions published in open data format on AMF's website and on data.gouv.fr, as part of AMF's data transparency program initiated in May 2022 under EU short selling regulations.
• AMF Generalist Examination (Examen AMF) Mandatory 120-question multiple-choice professional certification exam for salespeople, portfolio managers, compliance officers, investment advisors and similar roles in investment services; available in French and English since 2020, with over 145,300 successful candidates since 2010.
• AMF Sustainable Finance Examination (Examen AMF Finance durable) Voluntary 60-question multiple-choice exam on EU and French sustainable finance frameworks, ESG concepts, extra-financial approaches in asset management, and commercialization of sustainable finance products; over 6,300 candidates have passed since 2022.
• Internal Competency Verification (Vérification interne) Alternative to the AMF exam for investment service providers, allowing employers to conduct formal internal assessments of staff minimum knowledge competencies under AMF oversight; valid only within the same corporate group.
• PSAN Whitelist — Digital Asset Service Providers Registry Publicly accessible whitelist of registered and approved Digital Asset Service Providers operating in France under AMF oversight; includes both PSAN registered and PSAN approved listings, covering 130+ providers.
• PSFP Whitelist — Crowdfunding Service Providers Registry Publicly accessible whitelist of approved Crowdfunding Service Providers (Prestataires de services de financement participatif) registered with AMF.
• AMF Mediation Service Free independent mediation service for disputes between retail investors and financial service providers within AMF's remit, accessed via the AMF website.
• ONDE Extranet Secure extranet portal where listed companies and issuers file regulated financial information, manage disclosures, and transact with AMF.
• ROSA Extranet Secure extranet portal for regulated entities (asset managers, investment service providers, etc.) to manage regulatory reporting and declarations with AMF.
• Épargne Info Service Telephone and online information and assistance service providing guidance to retail investors on financial products, savings, scams, and market understanding.

Quantifiable outcome

• 145,300+ professionals certified since 2010 through AMF exam program
• +2 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eight partnerships are on record, tiered core, flagship and minor.

• ACPR (Autorité de contrôle prudentiel et de résolution)coreStrategic or Co-development PartnerAMF collaborates closely with ACPR on joint initiatives including the Pole Commun (Common Platform) for retail client protection in banking, insurance, and financial services. This partnership produces annual joint reports on client protection, coordinates on structured products distribution studies, and conducts shared supervisory activities.
• Paris Europlace (IPO Forum)flagshipStrategic or Co-development PartnerAMF collaborated with the IPO Forum established under Paris Europlace to develop recommendations for updating IPO practices and making public offerings in France more attractive. The Board of AMF implemented recommendations from this forum to address the multi-year decline in French IPO activity as part of the Impact 2027 strategic plan.
• ESMA (European Securities and Markets Authority)flagshipStrategic or Co-development PartnerAMF works with ESMA on European regulatory coordination, including MiCA implementation oversight, stablecoin regulation advocacy, and ESMA's potential direct supervisory authority over major crypto firms. AMF participates in ESMA's Sustainability Standing Committee and working groups on transition finance and impact.
• Banque de FrancecoreStrategic or Co-development PartnerAMF cooperates with Banque de France on system-wide financial stability assessments, including joint stress testing exercises. Governor Francois Villeroy de Galhau advocates alongside AMF for stricter EU-level oversight including ESMA supervision of major crypto firms.
• IOSCO (International Organization of Securities Commissions)flagshipStrategic or Co-development PartnerAMF participates in IOSCO as the global securities regulator standards body. Through the Sustainability Forum, AMF engages in international work on sustainable finance regulation and investor protection standards.
• ESRB (European Systemic Risk Board)flagshipStrategic or Co-development PartnerAMF coordinates with ESRB on systemic risk assessment and recommendations. The ESRB adopted recommendations on October 1 to prohibit multi-issuance stablecoins, with AMF and Bank of France advocating for stricter stablecoin rules at EU level.
• International Financial Regulators (Bilateral Cooperation)coreStrategic or Co-development PartnerAMF maintains bilateral cooperation agreements with foreign financial regulators for cross-border data sharing and supervisory coordination. The Administrative Arrangement of January 7, 2019 governs transfers of personal data between EEE financial supervisors and non-EEE authorities.
• Atalan (Accessibility Auditor)minorImplementation/ SI/ Consulting PartnerAMF engaged Atalan to conduct conformity accessibility audits of its website, including the January 2026 audit that revealed 95% RGAA 4.1.2 compliance.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• U.S. Securities and Exchange Commission (SEC): Largest national securities regulator globally; directly comparable to AMF in mandate (capital markets supervision, investor protection, enforcement). Comparable on prospectus review, market surveillance, and professional conduct oversight, though operating at much larger US market scale.
• European Securities and Markets Authority (ESMA): EU-level authority coordinating AMF and other NCAs; comparable on rulemaking, convergence work, and MiCA supervision. AMF collaborates directly with ESMA and is among its most active national contributors.

Direct peers

• Financial Conduct Authority (FCA): UK integrated financial regulator with the closest analogue to AMF — combining conduct, markets, and asset-management supervision under one roof. Highly comparable on investor protection, professional certification, and MiCA-equivalent crypto oversight posture.
• Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin): Germany's integrated financial regulator with securities/capital markets supervision comparable to AMF. Both are pillar EU NCAs collaborating in ESMA, supervising asset management, prospectus approvals, and market integrity.
• Commissione Nazionale per le Società e la Borsa (CONSOB): Italy's securities markets regulator; closest functional peer within the EU given similar continental legal framework, investor protection mandate, and capital markets supervision responsibilities. Coordinates with AMF through ESMA.
• Autoriteit Financiële Markten (AFM): Dutch financial markets regulator; integrated conduct and market supervision model closely mirrors AMF's single-authority structure. Comparable on asset management oversight, professional certification, and investor education outreach.
• Eidgenössische Finanzmarktaufsicht (FINMA): Switzerland's integrated financial markets supervisor; comparable in integrated approach to capital markets, asset management, and enforcement. Operates under non-EU but closely aligned regulatory framework.
• Autorité de Contrôle Prudentiel et de Résolution (ACPR): France's prudential supervisor operating the Pôle Commun with AMF for retail client protection. Sister authority under Banque de France oversight, jointly producing structured products studies and DLT Pilot Regime licensing.
• Commission de Surveillance du Secteur Financier (CSSF): Luxembourg's integrated financial regulator; comparable in supervising cross-border funds and asset management alongside AMF, both within ESMA's supervisory convergence framework.
• Australian Securities and Investments Commission (ASIC): Australia's integrated corporate, markets, and financial services regulator; structurally analogous to AMF on investor protection, market integrity, and professional conduct. Comparable IOSCO member and sustainable-finance policy contributor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/amf_actu
• YouTubeyoutube.com/channel/UCDa4J-pPEeD5oYemPGJiPRw
• Facebookfacebook.com/AmfEpargneInfoService
• LinkedInlinkedin.com/company/autorit-des-march-s-financiers-amf-france/?originalSubdomain=fr
• Instagraminstagram.com/amf_actu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AMF